Payments

Funds transfer over Internet/Mobile Banking

We understand your need to move money between accounts, whether within IDFC Bank or to other third party banks. We bring you a range of funds transfer options to help you manage your money better. You can transfer funds immediately or set a date for the funds transfer to:

  1. Own IDFC bank account
  2. Other IDFC Bank accounts
  3. Non-IDFC Bank accounts
  4. Non-IDFC Bank Credit Cards payments

 

Funds transfer via our Branch

Steps to carry out a funds transfer from the branch are as below:

  1. Fill up the funds transfer form with the below details:
  1. Date
  2. Your account details
  3. Your beneficiary’s account details
  4. Select whether you want to transfer using NEFT or RTGS or if it is a transfer to an IDFC Bank account
  5. Amount in figures & words
  6. And sign, if you have a joint account then signatures of both the holders is required

And submit the form to our branch executive. The request will be processed as per the NEFT / RTGS cycles. If the funds transfer is to an IDFC Bank account then the funds transfer will be instant.

Please Note: IMPS is an online transaction & cannot be done from the branch.

The form is available from:

  1. Get it from the branch executive directly upon walking into any of our branches
  2. Download it from our website; click here to download it.

 

Funds transfer using our Internet & Mobile Banking services

We give you three simple and convenient options to complete a funds transfer via Our Internet Banking / Mobile Banking portal or by visiting our Branch using either IMPS/NEFT/RTGS.

  1. Transfer funds to an already added beneficiary
  2. Transfer funds using our one time beneficiary option; this lets you transfer funds without adding a beneficiary first
  3. Schedule a funds transfer; we give you the below variations to schedule it:
  1. Set the start & end date for the transfer with the frequency of the transfer at your convenience:
    1. Weekly
    2. Monthly
    3. Quarterly
    4. Half Yearly
    5. Yearly
  2. Set the number of times the funds transfer should happen from the start date with our “Repeat” feature.

Click here to view the locations of our branches, alternatively you can log into our Internet Banking portal here.

 

IMPS - Immediate Payment Service

Immediate Payment Service (IMPS) enables you to instantly transfer funds online from your bank account to other bank accounts. This service is available 24x7 through Internet Banking and Mobile Banking. This service is brought to you by the National Payments Corporation of India (NPCI) in collaboration with member banks.

IMPS fund transfer can only be done using account number and IFSC code of the recipient bank. Click here to know the list of banks.

  • Features and Benefits
  • Send and receive money instantly.
  • Available 24X7.
  • Safe & secure.
  • Instant confirmation to sender and receiver.
  • Absolutely free of cost.

 

IMPS is available all year around & lets you transfer from Re. 1 up to Rs.2, 00,000 using our IMPS channels

All resident current and savings account holders of the bank who are registered for Internet Banking or Mobile Banking can use these services.

Process to carry out a funds transfer using IMPS:

  1. Log onto Internet Banking / Mobile Banking
  2. Choose “Funds transfer” in the LHS & select “Transfer Now”
  3. Enter the amount you want to transfer (has to be between Re. 1 to Rs. 2,00,000)
  4. Select the beneficiary you want to transfer the funds to or use “One Time Beneficiary” option to transfer without registering the beneficiary
  5. By default IMPS will be selected for funds transfer
  6. Click “Submit”, this will trigger an OTP to your registered mobile number
  7. Enter the OTP & post successful verification the funds will be transferred instantly to the beneficiary

 

NEFT – National Electronic Funds Transfer

With NEFT, you can transfer funds to any Third Party (Beneficiary) holding an account with any other Bank participating in RBI’s National Electronic Funds Transfer (RBI - NEFT) scheme.

NEFT can be initiated over our Internet Banking / Mobile Banking portals and also by visiting any of our branches. Click here to view the locations of our branches, alternatively you can log into our Internet Banking portal here.

 

Transfer limits

Minimum Amount: Re. 1

Maximum Amount: Rs. 20, 00,000

 

Process to carry out a funds transfer using NEFT:

  1. Log onto Internet Banking / Mobile Banking
  2. Choose “Funds transfer” in the LHS & select “Transfer Now”
  3. Enter the amount you want to transfer (has to be between Re. 1 to Rs. 20,00,000)
  4. Select the beneficiary you want to transfer the funds to or use “One Time Beneficiary” option to transfer without registering the beneficiary
  5. Select NEFT as the payment mode for funds transfer
  6. Click “Submit”, this will trigger an OTP to your registered mobile number
  7. Enter the OTP & post successful verification the funds will be transferred in the respective NEFT cycle to the beneficiary

Please note:

  1. Payments can only be made via Internet Banking if you have single or unconditional signing authority on your account.
  2. Your account will be debited immediately online. Requests received between 8AM to 6:30PM on weekdays (except Sundays & Bank holidays) will be processed in the same day. The time taken to credit the Beneficiary's account will be dependent on the time taken by the Beneficiary's Bank to process the payment.

 

RTGS – Real Time Gross Settlement System

With RTGS, you can transfer funds instantly to any Third Party (Beneficiary) holding an account with any bank participating in RBI’s Real Time Gross Settlement (RBI - RTGS) scheme.

RTGS can be initiated over our Internet Banking / Mobile Banking portals and also by visiting any of our branches. Click here to view the locations of our branches, alternatively you can log into our Internet Banking portal here.

Transfer limits

Minimum Amount: Rs. 2, 00,000

Maximum Amount: Rs. 20, 00,000

Process to carry out a funds transfer using RTGS:

  1. Log onto Internet Banking / Mobile Banking
  2. Choose “Funds transfer” in the LHS & select “Transfer Now”
  3. Enter the amount you want to transfer (has to be between Rs. ,, to Rs. ,,)
  4. Select the beneficiary you want to transfer the funds to or use “One Time Beneficiary” option to transfer without registering the beneficiary
  5. Select RTGS as the payment mode for funds transfer
  6. Click “Submit”, this will trigger an OTP to your registered mobile number
  7. Enter the OTP & post successful verification the funds will be transferred in the respective NEFT cycle to the beneficiary

 

Please note:

  • For requests received on any RTGS between 9 AM to 4:00 PM on weekdays and 9 AM to 1:00 PM on Saturdays (except 2nd and 4th Saturdays), your account will be debited online and request will be sent by IDFC Bank to RBI on the same day.
  • Requests received after cut-off time or on holidays will be processed on the next RTGS business day. Your account will be debited only when the request is processed, subject to availability of clear funds.

 

Transaction timing of IMPS/NEFT/RTGS

Cut Off Timings for Same Day Processing
Transaction Type Monday-Saturday Sunday RBI Holidays
IMPS --------------24 X 7 Available all year around!!!--------------
NEFT 8.00 AM to 6.30 PM Not Working Not Working
RTGS 9.00 AM to 4.00 PM Not Working Not Working

 

Transaction Limits of IMPS / NEFT / RTGS

  Online Branch
Transaction Type Minimum Limit Maximum Limit Minimum Limit Maximum Limit
IMPS Re. 1 Rs. 2,00,000 Re. 1 Rs. 2,00,000
NEFT Re. 1 Rs. 20,00,000 Re. 1 No Limit
RTGS Rs. 2,00,000 Rs. 20,00,000 Rs. 2,00,000 No Limit

 

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